A Wealth-Requirement Axiomatization of Riskiness
We provide an axiomatic characterization of the measure of riskiness of gambles (risky assets) introduced by Foster and Hart (2009). The axioms are based on the concept of “wealth requirement”.
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- Ignacio Palacios-Huerta & Roberto Serrano & Oscar Volij, 2003.
"Rejecting Small Gambles Under Expected Utility,"
Economics Working Papers
0032, Institute for Advanced Study, School of Social Science.
- Sergiu Hart, 2010.
"Comparing Risks by Acceptance and Rejection,"
Discussion Paper Series
dp531, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
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